Kingfisher Airlines and United Breweries (Holdings) Ltd. on Thursday submitted their evidences before the Debt Recovery Tribunal (DRT), which is seeking to recover un-serviced debts of over Rs. 9,000 crores, in connection with the hearing of the applications filed by public sector lender State Bank of India (SBI) presently leading 17 secured creditors against liquor baron Vijay Mallya.
The court has granted other defendants, who have not filed their evidences, time till tomorrow to submit their response. The matter will now be heard on a daily basis.
The tribunal had on May 17 directed the J.P. Morgan Bank not to disburse the 40 million USD amount deposited by British liquor giant Diageo in favour of Mallya.
The DRT had also directed the bank to provide statement of transaction since February 25, 2016, till date. It also directed the bank to attach the shares held by Mallya in the companies.
The court passed an ex-party order while hearing the petition that was filed by consortium of banks led by the State Bank of India seeking the same.
02/06/16 Bengaluru/Business Standard
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The court has granted other defendants, who have not filed their evidences, time till tomorrow to submit their response. The matter will now be heard on a daily basis.
The tribunal had on May 17 directed the J.P. Morgan Bank not to disburse the 40 million USD amount deposited by British liquor giant Diageo in favour of Mallya.
The DRT had also directed the bank to provide statement of transaction since February 25, 2016, till date. It also directed the bank to attach the shares held by Mallya in the companies.
The court passed an ex-party order while hearing the petition that was filed by consortium of banks led by the State Bank of India seeking the same.
02/06/16 Bengaluru/Business Standard
